Analysts Anticipate ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Will Announce Quarterly Sales of $122.87 Million


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Wall Street brokerages predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will post $122.87 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from $120.50 million to $127.14 million. ACADIA Pharmaceuticals reported sales of $98.33 million in the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 24th.

On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $443.81 million for the current year, with estimates ranging from $441.20 million to $447.89 million. For the next year, analysts anticipate that the firm will report sales of $673.55 million, with estimates ranging from $593.08 million to $777.25 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for ACADIA Pharmaceuticals.

A number of brokerages recently weighed in on ACAD. Mizuho assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, December 15th. They set a “buy” rating and a $69.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 29th. Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating and set a $51.00 target price for the company. in a research note on Thursday, January 28th. Morgan Stanley boosted their price target on ACADIA Pharmaceuticals from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 16th. Finally, Raymond James upgraded ACADIA Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Monday, November 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $60.65.

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,484 shares of the firm’s stock in a transaction dated Wednesday, January 6th. The shares were sold at an average price of $53.34, for a total value of $185,836.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Elena Ridloff sold 1,016 shares of the business’s stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $53.34, for a total transaction of $54,193.44. Following the completion of the transaction, the chief financial officer now owns 4,917 shares of the company’s stock, valued at $262,272.78. The disclosure for this sale can be found here. Insiders sold a total of 64,560 shares of company stock valued at $3,427,583 over the last 90 days. 27.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in ACADIA Pharmaceuticals by 5.3% in the 3rd quarter. State Street Corp now owns 2,702,584 shares of the biopharmaceutical company’s stock valued at $111,482,000 after purchasing an additional 134,840 shares during the last quarter. LPL Financial LLC increased its holdings in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. LPL Financial LLC now owns 37,234 shares of the biopharmaceutical company’s stock worth $1,536,000 after buying an additional 418 shares in the last quarter. Swiss National Bank lifted its stake in shares of ACADIA Pharmaceuticals by 1.7% in the 4th quarter. Swiss National Bank now owns 269,404 shares of the biopharmaceutical company’s stock valued at $14,402,000 after acquiring an additional 4,500 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of ACADIA Pharmaceuticals by 191.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 578,195 shares of the biopharmaceutical company’s stock valued at $23,851,000 after acquiring an additional 379,685 shares in the last quarter. Finally, DNB Asset Management AS grew its position in ACADIA Pharmaceuticals by 144.4% during the 4th quarter. DNB Asset Management AS now owns 55,098 shares of the biopharmaceutical company’s stock worth $2,946,000 after acquiring an additional 32,556 shares during the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ACAD traded down $0.38 during trading hours on Thursday, hitting $49.80. The company had a trading volume of 27,749 shares, compared to its average volume of 888,544. ACADIA Pharmaceuticals has a 1-year low of $30.02 and a 1-year high of $58.72. The firm’s 50 day moving average is $51.69 and its 200-day moving average is $47.43. The stock has a market capitalization of $7.92 billion, a P/E ratio of -29.17 and a beta of 1.44.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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